How business has changed in the Last 20 Years
The business world have undergone several changes over the last two decades. From transport, communication to businesses everything got changed with the excessive use of technology. This fundamental shift in the business is mainly due to the advancement in the world of technology and how people go about exchanging money.
In this article, we will discuss how the business has been changed in last two decades. Some the areas with swift change are listed below:
Less use of personal services
Major reason of this decline is that twenty years ago, companies were more localized and people love to interact and communicate with each other face to face. That localized business served a stable and local population. The business owners are more likely to know their customers by their faces and it was a pleasure for them to deal with face to face. More business practices and advanced technology, now change the whole aspect of business into new terms e.g. online business etc.
Globalization of businesses
Few years back, only big businesses were able to extend their borders to the other countries. Now global marketplace is open for each and every kind of business. With the strong communication skills and transport facilities, your business can trade globally.
Communications technology, computerization, and automation, along with the internet can make your business grow all over the world.
Working hours and workforce
These two decades not only advances the technology and communications also change the stereotypical ideas against the gender working as a workforce. The gender rules are not becoming strict because of the advancement of time. Both the genders are working on the equality principle on the workplace.
The working hours have been reduced to match the human capacity of work. The relaxation time in the middle of the work is allowed to improve the results. The part-time is available to some people who are showing willingness towards it.
Change in the area of business
One more important reason of change in the business over two decades is the shift of industrial area to the outside of the population area. This shift of industrial sector to a particular area benefits the business operation and customer satisfaction in ease of access.
The use of internet
Two decades before, the use of internet is in its initial stages where entrepreneurs are learning new concepts and the control of online marketplace. Now the businesses are more focusing on the email marketing, lead generation and many other online business techniques to improve the sales.
The concept of apps
With the invention of portable cell phones, the concept of business was completely changed. Now the smartphone technology and app-driven commerce is the base of modern business. In today’s world, with smartphones and other invention, you can run your business at your convenience with no worries.
The modern technology has changed a lot over the course of twenty years. It is difficult to ignore the importance of technology and its inventions that is continuously changing our business styles.